Philippines-based Cebuana Lhuillier Bank has partnered with Switzerland-based Temenos to modernise its core banking platform. Through this partnership, Cebuana Lhuillier Bank aims to swiftly introduce new banking products and efficiently scale its operations.

In addition, the bank aims to expand its reach, targeting over 11 million customers within the next five years. Cebuana Lhuillier Bank focuses on providing credit and savings accounts to individuals, as well as micro, small, and medium-sized enterprises, thereby aiding them in their personal and business financial growth. According to the official press release, given that more than half of the Philippines' population resides in rural areas, the role of banks such as Cebuana Lhuillier Bank is to address the financial needs of individuals in remote and underserved regions.

The adoption of Temenos' core banking platform equips Cebuana Lhuillier Bank with enhanced flexibility and agility in managing customer accounts and transactions. This has the potential to translate to improved performance and efficiency, facilitating the provision of personalised products with better speed and cost-effectiveness. The bank can also introduce cost-efficient lending products, such as motorcycle loans, to attract new customers while ensuring sustainable growth.

The implementation of this solution will be executed by Orion Innovation, a delivery partner of Temenos. Orion Innovation offers a selection of digital services and technology solutions that aid banks in modernising their legacy systems, developing new products, and exploiting new business opportunities. With a specialisation in core banking, payments, and digital banking solutions, Orion, as a multi-regional partner of Temenos, delivers full-service implementation and integration capabilities to Temenos clients across the globe.

Deploying the Temenos solution Being a regulated financial institution under the supervision of the Bangko Sentral ng Pilipinas, Cebuana Lhuillier Bank can leverage the Temenos solution to adapt more efficiently to evolving market conditions and local regulatory requirements. This contrasts with the prior necessity of lengthy and intricate manual processes. Although the initial deployment of the Temenos solution will be within Cebuana Lhuillier Bank's on-premise data centre, the cloud-native design of the solution will allow the bank to transition to the cloud in the future.

Representatives from Cebuana Lhuillier Bank remarked on the bank's commitment to financial inclusion, aiming to improve services and opportunities for Filipinos. They also emphasised the institution's responsibility to surpass evolving client expectations by embracing innovation and reshaping the banking experience. In the company press release, officials from Temenos, expressed enthusiasm about the partnership with Cebuana Lhuillier Bank, underscoring Temenos' position as a preferred choice for banks across diverse sizes and segments, including rural and thrift banks.

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